Remove Claims Remove Injury Remove Insurance Remove Security
article thumbnail

Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.

article thumbnail

Can a Property Owner File a Claim Against the Contractor’s Insurance?

Levelset

In most cases, that’s what insurance is for, and the contractor will typically initiate a claim against their policy to take care of it. But who can actually file a claim against the contractor’s insurance? Can the property owner file a claim, or does the contractor need to submit it? State requirements.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

Plumbing contractors should include business insurance as an integral part of their financial strategy. When you tackle the jobs you’ve secured, it’s also important to plan for the unexpected. What is plumber’s insurance? Each field of subcontracting work has its own area of focus in insurance matters.

article thumbnail

Carpenter’s Insurance: Who Needs It & Why

Levelset

Insurance is one part of a strategy to keep your carpentry business financially healthy. You can practice safety and use common sense on the job, but there’s no way to predict when accidents or injuries might occur. To minimize any financial damage, a comprehensive carpenter’s insurance plan is a smart bet. .

article thumbnail

First-Party vs. Third-Party Insurance: What’s the Difference?

Levelset

As you dig deeper into your construction insurance policy, you may come across the terms first-party insurance and third-party insurance. Mastering the difference between these two concepts is crucial to understanding how different types of construction insurance protect you.

article thumbnail

Additional Insured Endorsements & How They Work in Construction

Levelset

An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.

article thumbnail

What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.